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0.215   -0.005 (2.27%)  0.21 - 0.22  806,700
10,598 comment(s). Last comment by ahfad at Dec 1, 2020 9:01 AM
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lsmpro888
254 posts

Posted by lsmpro888 > Nov 29, 2019 8:25 PM | Report Abuse

this is another disappointing one with so many project gotten in hand but margins are eroded . sigh .


MCQ8018
69 posts

Posted by MCQ8018 > Nov 30, 2019 11:21 AM | Report Abuse

At least got projects on, no lowest can't get higher. Next year finish the projects, price will up. Be patient.


carilembu
1122 posts

Posted by carilembu > Dec 6, 2019 12:38 PM | Report Abuse

sendai still lao sai


DickyMe
7159 posts

Posted by DickyMe > Dec 8, 2019 6:55 AM | Report Abuse

Get contract but chicken feet profit whcih goes to pay bank interest. The boss seems to be proud of owning a business but did not realise it is unprofitable. Egoistic and dumb businessman.


Daily8
3858 posts

Posted by Daily8 > Dec 9, 2019 1:50 PM | Report Abuse

U will be surprise with Sendai soon


DickyMe
7159 posts

Posted by DickyMe > Dec 9, 2019 2:49 PM | Report Abuse

Yea, tell me about it. Been waitng for that since 2013.


Daily8
3858 posts

Posted by Daily8 > Dec 12, 2019 5:35 PM | Report Abuse

jacks123, don't underestime ah neh company. They can build a new kingdom in 1 night.lol


jacks123
10 posts

Posted by jacks123 > Dec 13, 2019 6:25 AM | Report Abuse

Upon completion of first liftboat as stipulated in the terms of the facility, the Group had drawn down the Ijarah Facility which amounted to RM264,000,000 to settle Murabaha Facility and the balance for working capital purposes. As part of the agreement, the Ijarah Facility allows the Group to transfer the drawn down facility to the related party upon post completion and commercial operation of the first liftboat, subject to the mutual agreement between both parties. As at 23 April 2019, the transfer of the loan has not been completed. - From Annual Report 2018 page 157.


jacks123
10 posts

Posted by jacks123 > Dec 13, 2019 6:26 AM | Report Abuse

and looking at the latest Q3 results. loan not yet come down... they have not transfer this to the related party.


limweebeng
288 posts

Posted by limweebeng > Dec 30, 2019 8:41 PM | Report Abuse

Ah neh neh experts in corn money


Daily8
3858 posts

Posted by Daily8 > Dec 31, 2019 6:27 PM | Report Abuse

See how lah. Ah neh neh shares no move. Nobody wanted this stock coz pusing pusing satu taman.


limweebeng
288 posts

Posted by limweebeng > Jan 5, 2020 4:55 PM | Report Abuse

Ah neh neh no capability to manage the company


newbie911
1041 posts

Posted by newbie911 > Jan 5, 2020 5:28 PM | Report Abuse

Middle east in trouble now...sell !!!


Daily8
3858 posts

Posted by Daily8 > Jan 6, 2020 2:10 PM | Report Abuse

sell lor


jacks123
10 posts

Posted by jacks123 > Jan 9, 2020 4:09 PM | Report Abuse

historical low today. Ah neh neh still say no problems.


jacks123
10 posts

Posted by jacks123 > Jan 9, 2020 4:21 PM | Report Abuse

Sold all shares d. Good luck the rest of you!


c2k9791
134 posts

Posted by c2k9791 > Jan 10, 2020 7:07 PM | Report Abuse

Curry Neh


Daily8
3858 posts

Posted by Daily8 > Jan 13, 2020 6:41 PM | Report Abuse

moneygame1, yeah. bankers can make wrong decision too. Look at Lonbis. Currently ah neh keep twisting non-stop their business stories. wait for financial result out then only know the real story


moneygame1
7 posts

Posted by moneygame1 > Jan 15, 2020 3:48 PM | Report Abuse

i suppose 2019 year is no hope


chesslim
685 posts

Posted by chesslim > Jan 22, 2020 4:46 PM | Report Abuse

记住,当别人恐惧时你要贪婪。


ahwong
105 posts

Posted by ahwong > Jan 23, 2020 4:13 PM |

Post removed. Why?


limweebeng
288 posts

Posted by limweebeng > Jan 23, 2020 10:12 PM | Report Abuse

As greed as ah neh neh


Bullhunter
1162 posts

Posted by Bullhunter > Jan 28, 2020 12:45 PM | Report Abuse

keep breaking records ... historic low , worst qr coming????


limweebeng
288 posts

Posted by limweebeng > Jan 28, 2020 6:46 PM | Report Abuse

Mostly negative qr


BigPro
633 posts

Posted by BigPro > Jan 29, 2020 5:52 PM | Report Abuse

Close today 5 years low record...


bbcall
24 posts

Posted by bbcall > Jan 30, 2020 8:22 AM | Report Abuse

can keep this stock?


chesslim
685 posts

Posted by chesslim > Jan 30, 2020 4:14 PM | Report Abuse

keep half year must got profit around 10%.


c2k9791
134 posts

Posted by c2k9791 > Jan 31, 2020 8:24 AM | Report Abuse

Warren Buffett said keep at least 10 years....hihi


moneygame1
7 posts

Posted by moneygame1 > Jan 31, 2020 9:28 AM | Report Abuse

no volume at all. just sliding down cause small players throwing.


moneygame1
7 posts

Posted by moneygame1 > Jan 31, 2020 11:01 AM | Report Abuse

50k value... come down 1 sen d.


freddiehero
13829 posts

Posted by freddiehero > Jan 31, 2020 11:07 AM | Report Abuse

very nice la...


limweebeng
288 posts

Posted by limweebeng > Jan 31, 2020 2:57 PM | Report Abuse

Holland counter


c2k9791
134 posts

Posted by c2k9791 > Feb 1, 2020 12:33 AM | Report Abuse

Someone eats all quantity from 0.325 to 0.370 at 4pm?


limweebeng
288 posts

Posted by limweebeng > Feb 3, 2020 10:25 AM | Report Abuse

ck29791, you also noticed. I suspect someone accidentally press buy


ubaL taM
99 posts

Posted by ubaL taM > Feb 4, 2020 1:15 PM | Report Abuse

Sendat


BigPro
633 posts

Posted by BigPro > Feb 4, 2020 1:26 PM | Report Abuse

https://www.klsescreener.com/v2/announcements/view/3103548

Win new projects ... good.


DickyMe
7159 posts

Posted by DickyMe > Feb 4, 2020 3:07 PM | Report Abuse

"Kuala Lumpur, February 4, 2020 – Amid many challenges and external factors affecting the
global economy, Eversendai is off to a great start in 2020 winning new contracts. With more
than RM10 Billion in tender book, there are many more interesting projects to come in this
year.
Eversendai Corporation Berhad, announced today that it has secured six new projects worth
RM323 million by its group of companies in Malaysia, India and Qatar. The Group has
increased the value of its order book to approximately RM1.87 billion inclusive of the new wins,
which would enhance the bottom line for 2020.

The newly secured contracts include a structural steel link bridge connecting two buildings
and structures for a retail leisure commercial project in Kuala Lumpur. Eversendai have also
secured the structural steel works for a commercial building project in Hyderabad, India. The
Group continues to strengthen its position in the Middle East by securing 3 new contracts in
Qatar for a commercial building podium structure; a hotel and a mixed-use building project.
..."


lksiam
297 posts

Posted by lksiam > Feb 4, 2020 4:08 PM | Report Abuse

Sendai is well known for afternoon news release and pull up prices... Orderbook is never a problem. Cut throat prices war and thus the narrow profit margin is the main concern....


DickyMe
7159 posts

Posted by DickyMe > Feb 4, 2020 4:11 PM | Report Abuse

Narrow profit is still a profit. Better than loss.


c2k9791
134 posts

Posted by c2k9791 > Feb 5, 2020 9:38 PM | Report Abuse

https://www.enanyang.my/news/20200205/%E3%80%90%E8%A7%86%E9%A2%91%E3%80%91%E4%BE%9D%E5%8D%8E%E5%BB%BA%E5%8F%B0-%E6%98%8E%E5%B9%B4%E8%B4%A2%E6%B5%8B%E7%A0%8D20/


Tunjung
171 posts

Posted by Tunjung > Feb 6, 2020 10:10 AM | Report Abuse

Need to give dividen to shareholder


c2k9791
134 posts

Posted by c2k9791 > Feb 6, 2020 7:54 PM | Report Abuse

https://www.orientaldaily.com.my/news/business/2020/02/05/325362


c2k9791
134 posts

Posted by c2k9791 > Feb 6, 2020 7:55 PM | Report Abuse

Win the project, soon will give dividend


DickyMe2
1116 posts

Posted by DickyMe2 > Feb 6, 2020 7:57 PM | Report Abuse

This company not for greedy pigs.
You want instant profit try the GLC casino counters.


i3lurker
5257 posts

Posted by i3lurker > Feb 6, 2020 8:01 PM | Report Abuse

why no instant profit?


DickyMe2
1116 posts

Posted by DickyMe2 > Feb 6, 2020 8:05 PM | Report Abuse

You want instant profit try the GLC casino counters.


BigPro
633 posts

Posted by BigPro > Feb 10, 2020 2:15 PM | Report Abuse

https://www.klsescreener.com/v2/announcements/view/3105932


Bobgaya
97 posts

Posted by Bobgaya > Feb 10, 2020 5:34 PM | Report Abuse

Any chance to go up?


vcinvestor
70 posts

Posted by vcinvestor > Feb 11, 2020 10:47 AM | Report Abuse

Yesterday, Eversendai Corporation Berhad ("Eversendai") announced that it received an unsolicited offer to purchase 100% of Vahana Offshore (M) Sdn Bhd ("Vahana") to be settled via the issuance of RCPS. The rationale of the transaction (as explained in the letter of offer) is that it gives Eversendai shareholders the opportunity to purchase 2 oil and gas assets (1 already deployed, 1 to be completed in mid-2021) chartered to ARAMCO:

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3022159

If you scroll back to Eversendai's announcements back in 2014 you will see the original contract award from Vahana Offshore (S) Pte Ltd (the company names are slightly different, but you will notice the liftboat names are consistent, Arjun and Aryan):

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=1767247

Readers will also note that Vahana is owned by Tan Sri AK Nathan (Eversendai majority shareholder) and his family.

So what has happened here? Lets speculate:
1) Eversendai in 2014 pushed through a RPT to build liftboats (the company's first venture into the oil & gas industry) for a company owned by Tan Sri at what we assume to be market rates. Eversendai minorities presumably approved this because well, the balance sheet risk will be on Tan Sri under his private company, right?

2) In 2020, a whole SIX YEARS after the initial award of the contract, only one of the liftboats has been completed and chartered and an Eversendai minority shareholders are given the "opportunity" to buy into a company owning one completed asset and one asset under construction. And the proposed purchase price is not cash, only RCPS, so in effect Tan Sri is just increasing his interest in Eversendai, right?

3) Note 20 (Trade Receivables) of Eversendai's 2018 Annual Report stated approx. RM235mil of trade receivables are owed by a related party (if you refer to the Key Audit Matters stated in the Independent Auditors Report, you will see this is for the same contract - the construction of liftboats for a related party). It is at this point that i would like to point out to readers that the original contract awarded from Vahana to Eversendai was RM580mil (so in effect, SIX years after the contract awarded, [and here we assume with one boat delivered and one halfway complete, the percentage work done on the contract is about 75% or RM435mil] MORE THAN HALF [54%] of this contract amount has not been paid to Eversendai). These amounts were not visible in Eversendai's 2016 or 2017 Annual Reports which lead me to believe that payment terms of the contract it signed with Vahana are very backloaded in nature.

4) What has happened here? Well we can effectively speculate based on publicly available information:
(a) Tan Sri via his private company entered into a VERY FAVOURABLE related party transaction with Eversendai where the public listed company effectively funded his private venture to build liftboats.
(b) Construction on the liftboats have been VERY delayed because no matter how high tech your liftboat is, there is no way it should take 6-7 years just to finish 2. (For reference Bumi Armada, which build FPSOs which are far larger, will take about 3 years to deploy an FPSO which cost billions of ringgit).
(c) Even after the first liftboat has been delivered (in mid-2018 https://www.nst.com.my/business/2018/04/357989/eversendai-eyes-us200m-job), Vahana DRAGGED the payment to Eversendai, so shareholders continue to fund his private venture.
(d) And finally, now he OFFERS Eversendai minorities the OPPORTUNITY to buy this very costly mistake. Why? Presumably because Vahana doesn't have the cash to pay the amounts owed to Eversendai.

Guys, if any of you hold the shares PLEASE vote against this abomination of a deal at the EGM. Tan Sri cannot continue to shortchange the minorities of Eversendai by making them buy over his expensive mistake. It has been one questionable decision after another when it comes to this contract and you all deserve better.


moneygame1
7 posts

Posted by moneygame1 > Feb 11, 2020 11:27 AM | Report Abuse

vcinvestor.. all good points except one thing maybe you need to add.. if it is a mistake.. isn't it better Tan Sri gets more shares in sendai? then later he bears more of the loss. Also.. investors must decide to rather have receivables keep going up or earnings from the 5 year contract?

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